Taylor Morrison Acquires Build-to-Rent Development Site in Apollo Beach, Florida

by Channing Hamilton

APOLLO BEACH, FLA. — Scottsdale, Arizona-based Taylor Morrison has purchased a 25.7-acre development site located within the 2,734-acre Waterset master-planned community in Apollo Beach, roughly 18 miles south of Tampa, Florida. Matt Mitchell and Chris Burtner of Berkadia North and Central Florida arranged the deal on behalf of the seller, Brookfield Residential, which is based in Costa Mesa, California.

Taylor Morrison plans to develop a build-to-rent (BTR) community on the site. The asset will feature a mix of one-, two- and three-bedroom single-family rental units, with each residence including a private backyard. Planned amenities include a pool, clubhouse, fitness center, pet park and pickleball courts.

Taylor Morrison will build and operate the community under the company’s for-rent brand, Yardly. According to Berkadia, this will be the first and only BTR project within Waterset. In addition to the planned community, Waterset features residential neighborhoods, retail and commercial space and green spaces such as parks and walking trails. 

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